Royal Dutch Shell and Petrobras signed a Memorandum of Understanding (MoU) to establish a long-term partnership to collaborate in developing pre-salt fields in Brazil.
The MoU also involves sharing best practices and learnings on safety and governance management, technical and operational solutions, contract management, logistics, wells construction and air transportation safety.
The deal was signed by Shell CEO Ben Van Beurden and Petrobras CEO Pedro Parente, during a visit by Petrobras’ executives to the Shell headquarters. The agreement is valid for five years and can be renewed
“Competitive growth of deep-water resources remains key to our company’s strategy for decades to come, and we’re very pleased to advance the technical and operational benefits of our joint-ventures with Petrobras in Brazil,” said Wael Sawan, executive vice-president, Deep Water for Shell.
Shell will share with Petrobras its global deep water experience, especially on cost efficiency efforts and use of technology.
The IOC oil major is a strategic partner of Petrobras in the pre-salt, with minority interests in the Libra and Lula fields and other important areas such as Sapinhoá, Lapa, and Iara, all of which are in Santos Basin.